Inflation rate holds steady in the year to October, with food, alcohol and recreation prices going up

Australia’s inflation rate remained steady in October, with rising prices for food, alcohol, cigarettes and recreational activities keeping it at 2.1 per cent annually.

However, the “trimmed mean” measure of inflation that the Reserve Bank of Australia closely watches when it sets interest rates rose in October to 3.5 per cent annually because it excluded the large disinflationary effect of electricity subsidies and falling fuel prices.

Loading